This year’s ANNUAL MEETING will be a MIXER held on Saturday May 8^th at our Custer branch

(18 Mt. Rushmore Rd).  There will be a $5 per person charge.

We will be having light refreshments/hors d’ oeuvres at 5:30 p.m. followed by a short meeting at 6:00 p.m. to announce your newest board members with the evening concluding at 7:00 p.m.

If you have any questions or concerns for the board those need to be received in writing, along with your name, by a branch manager by April 30^th.   The board will review and respond to those questions the night of the mixer.

March 2010

In response to the recent newspaper article we would like you to know that our goal as a credit union is expansion and to improve Telco and it’s services.  In the undertaking of that goal the economy came into play and that caused the Federal Government to become very conservative.  We got caught in the middle because of timing.  We have provided information, data and calculations to NCUA and have been in that process to give them the comfort level they need in order for us to finish our project. 

Fee Schedule Changes

Fee Schedule changes effective May 1st, 2009.

Account Reopening Fee	$15.00
Early Account Closure	$15.00
Early withdraw from Club Accounts	$15.00
Stop Pay Request, draft or ACH/EFT	$15.00
Unstop Pay Request, draft or ACH/EFT	$15.00
Pin Mailer for ATM/Debit Cards	$5.00
Cashier Check	$2.00
Telco Check not issued to member	$5.00
Visa Gift Cards	$5.00
Title Handling	$6.00
Reversal of loan payment due to NSF	$10.00
Loan payment extension or deferral	$25.00
Late Loan Payment	$25.00

Non Ufficient Funds per item returned	$32.00
Overdraft, paid Non Sufficient Funds per item	$32.00
ATM/Debit Card Overdraft	$32.00
ACH/EFT Overdraft	$32.00
Non Sufficient Funds Check written to Telco	$32.00

Effective December 1, 2008 our NSF and Return Item Fee will be $26.00 per item.

Non-Sufficient Funds Fee	$26 per item/$130 maximum per day
Returned Account-Owner-Issued Item Fee	$26 per check
ACH Change Fee	$25.00

Life Savings Insurance Policy 
Effective June 30th, 2007

Rapid City TELCO Federal Credit Union has a tradition of offering our members rock bottom loan rates and high yields on savings.  Time and again, this is what our members tell us they want.  To continue meeting this commitment, we are making some changes to help better manage our expenses and align services with your needs. 

Effective June 30, 2007, we are canceling our Life Savings Insurance group policy – term life insurance we provided at no cost to you on eligible savings deposits. Coverage on existing insurable deposits will end on July 31, 2007, the last day of the conversion period.  Please destroy any CUNA Mutual Life Savings Certificate of Insurance at that time.

We know many of you value the peace of mind and security that life insurance provides. That’s why we wanted you to know you can convert your Life Savings coverage to a member pay, whole life plan up to $3,000.  If you apply within the stated time period, there are no age restrictions, waiting periods, exclusions, or health questions.  The coverage builds cash values and may pay dividends after the second year.  If you convert, your new policy will be effective August 1, 2007, and premiums will be based on your age on that date.  Conversion is simple.  Just request, complete, and return an application with your first premium payment to CUNA Mutual Insurance Society by July 31, 2007.  Below are sample premium rates for conversion to the whole life policy offered by CUNA Mutual Group:

ORDINARY LIFE
ANNUAL PREMIUM FOR A $1,000 POLICY

Age	35	45	55	65
Female	$28.87	$38.08	$52.82	$88.33
Male	$30.87	$40.28	$55.82	$91.33

(Minimum policy issued $1,000)

We’ve also asked CUNA Mutual to make other low-cost life plans available as replacement options.  The plans are subject to insurability.  Again you must request, complete, and return an application in order to receive coverage.

We feel it’s important to carefully consider the options discussed above.  To request an application for either option listed above, call 1-877-636-2377 to speak with one of CUNA Mutual’s knowledgeable, fully licensed service representatives.  It’s easy, convenient, and confidential… and there’s no obligation to buy.  Best of all, Cuna Mutual, the credit union insurance company, is know for its comprehensive protection, excellent service and low rates.

If you have any questions about these changes, please contact us.  As always we, appreciate the opportunity to serve you.

Member's Choice Term Life Insurance
Effective March 1st, 2007

This is to inform you that the rates under MEMBER'S CHOICE™ Term Life Insurance coverage on any insured loan(s) will be increased effective March 1, 2007.  The reason for the rate adjustment is one of needing additional premium to pay claims on the increasing number that are occurring.  The increase in premium could result in a higher last payment or may extend the duration of the loan. The new Credit Life Insurance rate per $100 of outstanding loan balance is $.083 for the Single Insured Plan and $.125 for the Joint Insured Plan.

There is no action necessary on your part to continue your coverage if you already have it.  IT IS IMPORTANT THAT THIS NOTICE BE ATTACHED TO YOUR CERTIFICATE.  In the event you do not want coverage to continue, please notify the credit union.

040-0031-0

If you have any questions about these changes, please contact us.  As always we, appreciate the opportunity to serve you.

Patriot Act 
Effective October 16th, 2001

(signed by President Bush October 16, 2001)

A section of the USA Patriot Act says we must:

•  Verify the identity of any person seeking to open an account (which includes Trust, Investment, Safe Deposit, Loans and Deposit Accounts).
• Maintain records of the information used to verify the person's identity including name, address, and their identifying means.

If the staff at Telco Federal Credit Union asks you to provide a photo ID, the request is not meant to invade your privacy or not acknowledge you if you are a long time member. We are simply complying with a new federal regulation that is designed to protect you from identity theft and protect the credit union from being used for criminal activity.